not just a correlation whether it's not based on a lot of, you we heard from eric ross, he's a know, the underlying disorderly, slightly panicked fundamentals. so we're a little bit nervous market. you are don't think that you're just picking up on one end of about that. the correlation? you know in the financial areas >> caller: no, simon, because we like asset managers rather remember temperatures the euro occurrence te happened to out in than the large banks because the november, so when the euro started to fall and dollar cut fundamentals still are not its bid but at that time the there. stock market's were still you know, we wrote in our piece, relatively stabile. only started to correct about a is it a -- bounce or are the couple of weeks later. so given the sensitivity in the fundamentals really driving this? fx market started by the euro, and i think it's just more a it tells us that the market hope, a speculation that things problems had been coming, or will get better. motivated by what's going on we'd rather be investing in across the pond. >> jordan, thank you very much. areas where we're much more good luck with the digging. confident on the underlying >> caller: thank you very much. >> see you next week. >> he gets to call in from home, fundamentals. and when we see cheap growth huh? >> yeah, i thought about that today. >> moving on, from sovereign stocks out there, you know, it's risk to sovereign reality my, all relative. i'd rather own that than a next guest says investors need to differentiate the risks between spain, portugal and speculation that financials work in here. >> right. greece. john, it is so nice to have you he's pierre, he's managing on the program. >> thank you. director of moody's sovereign >> appreciate your insights today. risk group. thank you. >> thank you, maria. >> we'll see you soon, john he joins us now in a "first on cnbc interview." sir, good to have you on the calamos joining us. program. welcome. >> thank you. he doesn't seem too worried >> so moody's out, talking about about europe. these concerns growing over the given that he's been investing.